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Ratings

The ratings and outlook reflect the satisfactory level of debt
1 July 04:10 PM CI affirms Al Imtiaz's long-term credit rating at 'BBB'; outlook stable
Mubasher: Capital Intelligence (CI) has affirmed the long-term and short-term credit ratings of Al Imtiaz Investment Group at 'BBB' and 'A3', respectively, and lowered its outlook from Positive to Stable. The 'Stable' outlook shows that the …
Moody's has affirmed the bank's long-term deposit rating at 'A3'
1 July 12:22 PM Moody's affirms Boubyan Bank's credit ratings; outlook stable
Mubasher: Moody's Investors Service has maintained all the credit ratings of Boubyan Bank, with a 'Stable' outlook, according to the bank's disclosure to Boursa Kuwait on Wednesday. The credit rating agency has affirmed the bank's long-term …
Sheraa has partnered with Startup Genome
28 June 04:48 PM Sharjah tops growth ecosystems in 2020 GSER report
UAE - Mubasher: Sharjah has led the world's high growth activation phase ecosystems list in the 2020 Global Startup Ecosystem Report (GSER), reflecting Sharjah's objective to become a thriving global startup hub. Sheraa, a venue aiming to create a …
Global economy is projected to contract by 4.9% in 2020
25 June 09:55 AM IMF raises projected growth for Saudi economy in 2021
Riyadh - Mubasher: The International Monetary Fund (IMF) now expects a stronger recovery for the Saudi economy next year, after raising the economic growth forecast for Saudi Arabia to 3.1% during 2021. This marks an improvement of 0.2% compared …
Saudi cement volume for H1-20 could grow by nearly 10% YoY
24 June 11:18 AM Moderate growth in Saudi cement sector amid COVID-19
Riyadh - Mubasher: The Saudi cement industry exhibited a moderate rise of 11% in the demand for cement during the first five months of 2020, compared to the same period in 2019, amidst the imposed lockdown due to the coronavirus (COVID-19). Al …
The target price represents a downside potential of 13.1%
23 June 03:08 PM Itqan Capital sets SABIC’s TP at SAR 77.4/shr
Riyadh - Mubasher: Itqan Capital has initiated its coverage for the Saudi Basic Industries Corporation (SABIC) with an "Underweight" recommendation and set the target price (TP) of the stock at SAR 77.4 per share. The 52-week TP represents a …
All four GE 7F gas turbines at the plant can now operate in simple cycle configuration
23 June 01:57 PM SEC grants 5-star rating to Waad Al Shamal for EHS standards
Riyadh - Mubasher: Saudi Electricity Company (SEC) has awarded a five-star rating to Waad Al Shamal integrated solar and combined cycle power plant project for Environment, Health, and Safety (EHS) standard. Waad Al Shamal has become one of the …
Photo Archive
22 June 03:14 PM Moody's assigns DP World's hybrid instruments 'Ba2' rating
Dubai – Mubasher: Moody's Investors Service (Moody's) has assigned DP World's proposed subordinated perpetual notes and DP World Salaam's Sukuk certificates the 'Ba2' rating, with a stable outlook, Reuters reported. The Moody's rating to …
The GCC companies represent 90% of the Forbes list
22 June 01:05 PM ADNOC Distribution named region's top retail brand by Forbes
Abu Dhabi – Mubasher: Abu Dhabi National Oil Company for Distribution (ADNOC Distribution) was ranked first among retail brands in a list by Forbes for the Middle East Top 100 Companies 2020. Placed in the 52nd position overall, the company was …
The obligations rated at Baa are subject to moderate credit risks
21 June 04:38 PM Moody's reaffirms RAKBANK's rating at Baa1/P-2, outlook negative
Abu Dhabi – Mubasher: Moody's Investors Service (Moody's) has reaffirmed the credit rating of National Bank of Ras Al Khaimah (RAKBANK) at Baa1/P-2, with a negative outlook. The obligations rated at the medium grade Baa are subject to moderate …
The UAE ranked 19th on the Kearney foreign direct investment confidence index
21 June 11:27 AM UAE chosen among best markets for FDI in 2020 - Survey
UAE - Mubasher: The 2020 Kearney Foreign Direct Investment (FDI) Confidence Index, an annual survey ranking the markets likely to attract the most investment in the next three years, saw the UAE advance to 19th place out of 25 markets, compared to …
SISCO gained higher net profit by 57.4% YoY in Q1-20
18 June 04:07 PM Al Rajhi Capital raises SISCO TP to SAR 23/shr
Riyadh - Mubasher: Al Rajhi Capital raised its target price (TP) of the Saudi Industrial Services Company (SISCO) to SAR 23 per share from SAR 21 per share and maintained an ‘Overweight’ rating. In the first quarter (Q1) of 2019, SISCO gained …
The economy will recover by 5.5% in 2021
10 June 11:15 AM Fitch affirms Ras Al Khaimah's rating at 'A', outlook stable
UAE - Mubasher: Fitch Ratings has maintained Ras Al Khaimah's Long-Term Foreign-Currency Issuer Default Rating at 'A' with a stable outlook, according to a recent research note. The rating reflects that the coronavirus (COVID-19) impact on the …
The ratings reflect Kamco’s solid financial position
9 June 12:47 PM CI reaffirms Kamco’s credit ratings with stable outlook
Mubasher: Capital Intelligence Ratings (CI) on Tuesday has reaffirmed the long and short-term foreign currency corporate ratings of Kamco Invest at 'BBB' and 'A3', respectively. The outlook on the ratings remained ‘Stable’ despite the impacts of …
The rating agency has assigned the F1 rating
9 June 09:41 AM Fitch affirms 'A' rating to Al Masraf; stable outlook
UAE – Mubasher: Fitch Ratings has maintained the Long-Term Issuer Default Rating (IDR) at 'A' for the UAE-based Arab Bank for Investment & Foreign Trade (Al Masraf), with a stable outlook. The rating agency has assigned the F1 rating to the bank's …
Fund inflows remained positive for managers with large diversified assets
8 June 10:30 AM GCC asset managers show resilience despite COVID-19, oil prices – Moody's
Mubasher: The asset managers in member countries of the Gulf Cooperation Council (GCC) have resilience in facing the economic impacts of the new coronavirus disease (COVID-19), according to a recent report by Moody's Investors Service. The credit …
Abu Dhabi's economy is expected to recover in 2021
31 May 01:55 PM Abu Dhabi's GDP to retract by 7.5% in 2020 on COVID-19
UAE - Mubasher: Abu Dhabi's gross domestic product (GDP) is expected to retreat by 7.5% in 2020 due to lower oil prices and the coronavirus (COVID-19) pandemic, according to S&P Global Ratings. The rating agency referred that the oil production of …
ADIA ranking was followed by Kuwait's KIA on the SWFI global list
31 May 09:57 AM Abu Dhabi, Saudi sovereign wealth funds among world's largest
UAE - Mubasher: Abu Dhabi Investment Authority (ADIA) came in third place among the world's largest sovereign wealth funds with total assets of $579.6 billion, according to a report by the Sovereign Wealth Fund Institute (SWFI). ADIA's rankings by …
The lender’s LTFC IDR has been affirmed at 'B+'
27 May 01:49 PM Fitch revises Burgan Bank Turkey's outlook to negative
Mubasher: Fitch Ratings has revised the outlook on the long-term foreign-currency issuer default ratings (LTFC IDRs) of nine Turkish foreign-owned banks, including Burgan Bank Turkey, to negative from stable. The lender’s LTFC IDR has been …
The outlook on all ratings was changed to ratings under review
26 May 04:48 PM Moody’s downgrades Arabian Centres ratings
Riyadh – Mubasher: Moody’s Investors Service has downgraded Arabian Centres Company's (ACC) corporate family rating (CFR) to ‘Ba2’ from ‘Ba1’. The rating on the $500 million Sukuk, which was issued by Arabian Centres Sukuk Limited and due in 2024, …
ABK's capital adequacy ratio (CAR) stood at 18.6% in 2019
21 May 12:48 PM Moody’s affirms ABK long-term credit rating
Mubasher: Moody’s Investors Service has affirmed the long-term deposits rating of Ahli Bank of Kuwait (ABK) at ‘A2’, with a ‘Stable’ outlook. The ‘baa3’ standalone Baseline Credit Assessment (BCA) reflects the lender’s strong capitalisation, …
The ratings reflect the insurer’s strong balance sheet
18 May 11:48 AM AM Best affirms ratings of Al Ahleia Insurance; outlook stable
Mubasher: A.M. Best Rating Services has affirmed Al Ahleia Insurance’s financial strength rating (FSR) at ‘A-’ (Excellent) and the long-term issuer credit rating at ‘a-‘.   The outlook for these credit ratings remains stable, according to a bourse …
The bank’s long-term deposits were affirmed at ‘Baa2’
17 May 12:36 PM Warba Bank's outlook changed to 'Stable' from 'Positive' - Moody's
Mubasher: Moody's Investors Service has affirmed Warba Bank’s Baseline Credit Assessment (BCA) and the adjusted BCA at ‘ba3’, and changed the outlook to ‘Stable’ from ‘Positive’. The bank’s long-term and short-term deposits were affirmed at ‘Baa2’ …
The bank's Baseline Credit Assessment was affirmed at ‘ba1’
17 May 10:51 AM Moody's changes Kuwait's Gulf Bank outlook to ‘Stable’
Mubasher: Moody's Investors Service has affirmed Gulf Bank's long-term deposits at ‘A3’ and the short-term deposits at ‘P-2’. The rating agency has also changed the bank's outlook to ‘Stable’ from ‘Positive’, according to a bourse statement on …
The rating reflects the robustness of the insurer’s balance sheet
17 May 10:18 AM AM Best affirms Kuwait Reinsurance credit rating at “A-“
Mubasher: A.M. Best Rating Services has affirmed the credit rating of Kuwait Reinsurance Company at “A-“ (Excellent), with a ‘Stable’ outlook. The rating highlights the robustness of the insurer’s balance sheet, coupled with its adequate operating …